Kenneth Hallock
About Kenneth Hallock
Kenneth Hallock is an independent director of Greenwich LifeSciences (GLSI), age 77 as of October 28, 2025. He has over 40 years of general management and new venture start-up experience, currently serving as a senior manager and partner in a private start-up equipment manufacturing company for over 10 years. He holds a BSE in Chemical Engineering from Princeton University and an MBA from Harvard Business School. The Board has affirmatively determined he is independent under Nasdaq rules.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Private start-up equipment manufacturing company | Senior manager & partner | Over 10 years | Operational leadership in new venture manufacturing |
| NL Industries, Inc. | Management roles (large industrial) | Not disclosed | Large industrial operating experience |
| Anderson, Clayton & Co. | Management roles (large industrial) | Not disclosed | Large industrial operating experience |
External Roles
| Organization | Role | Tenure |
|---|---|---|
| Private start-up equipment manufacturing company | Senior manager & partner | Over 10 years |
Board Governance
- Independence: The Board determined Hallock is “independent” under Nasdaq Listing Rule 5605 and SEC Rule 10A-3; he is independent for Audit and Compensation Committees.
- Committee assignments:
- Audit Committee member (Chair: David McWilliams; audit committee financial expert: McWilliams).
- Compensation Committee member (Chair: David McWilliams).
- Nominating/Governance: The Board serves in place of a nominating & corporate governance committee.
- Attendance: In 2024, none of the directors attended fewer than 75% of Board and committee meetings; Board met 4 times, Audit Committee 1 time, Compensation Committee 1 time. Independent directors meet separately without management on a regular basis.
| Governance Item | Status |
|---|---|
| Independence (Nasdaq 5605) | Independent |
| Audit Committee | Member (not Chair); Committee independent; audit financial expert is McWilliams |
| Compensation Committee | Member (not Chair); Committee independent |
| Nominating/Governance Committee | Board acts in place of formal committee |
| 2024 Attendance | ≥75% for all directors; Board=4; Audit=1; Comp=1 |
| Executive sessions of independent directors | Regularly, without management |
Fixed Compensation
Non-Employee Director Compensation (Cash vs Equity):
| Year | Fees Earned or Paid in Cash ($) | Stock and Option Awards ($) | Total ($) |
|---|---|---|---|
| 2021 | $0 | $14,067 | $14,067 |
| 2023 | $0 | $65,636 | $65,636 |
| 2024 | $0 | $170,650 | $170,650 |
- Mix: 100% equity-based awards; no cash retainers, committee chair fees, or meeting fees disclosed for 2021, 2023, 2024.
Performance Compensation
- Directors’ equity compensation is time-based option vesting; no specific performance metrics tied to director awards disclosed (e.g., revenue/EBITDA/TSR).
| Grant Date | Vehicle | Earned/Vested in 2024 | Vesting Schedule | Notes |
|---|---|---|---|---|
| June 22, 2022 | Stock options | 10,337 options vested in 2024 | Remaining 15,247 options vest over 18 equal monthly installments commencing Jan 1, 2025 | Compensation/incentives over 48 months |
| December 24, 2024 | Stock options | 10,559 options vested in 2024 | Remaining 30,790 options vest over 36 equal monthly installments commencing Jan 1, 2025 | Compensation/incentives over 48 months |
Other Directorships & Interlocks
| Category | Disclosure |
|---|---|
| Compensation Committee interlocks | None reported: No current GLSI executive officers served on the board or compensation committee of any entity that had executive officers serving on GLSI’s Board or Compensation Committee in 2024. |
Expertise & Qualifications
- Education: BSE, Chemical Engineering (Princeton); MBA (Harvard Business School).
- Experience: 40+ years in general management and start-ups; private manufacturing venture leadership; large industrial corporate experience (NL Industries; Anderson, Clayton & Co.).
- Committee skills: Service on Audit and Compensation Committees; not designated as audit committee financial expert (McWilliams holds that designation).
Equity Ownership
| Holder | Shares Beneficially Owned | % of Outstanding | Options Exercisable/vesting within 60 days | Reference Shares Outstanding |
|---|---|---|---|---|
| Kenneth Hallock | 454,663 | 3.27% | 57,330 | 13,854,539 shares outstanding as of Oct 28, 2025 |
- Ownership structure: Kenneth and Annette Hallock are Trustees of the Hallock Trust and share voting and dispositive power over its securities.
- Hedging/pledging: Insider Trading Policy prohibits hedging/short sales/margin/derivative transactions; pledging prohibited unless pre-cleared. As of Dec 31, 2024, none of the directors or executive officers had pledged any shares.
- Section 16 compliance: All filing requirements for 2024 complied.
Governance Assessment
-
Positives
- Independent director with consistent committee service on Audit and Compensation; Board confirms independence under Nasdaq and SEC audit rules.
- Strong attendance record in 2024; independent directors hold regular executive sessions.
- Alignment via meaningful beneficial ownership (3.27%); options-based awards create ongoing equity exposure.
- Anti-hedging/anti-pledging framework; no pledging reported as of year-end 2024.
-
Potential concerns / RED FLAGS
- No separate nominating & corporate governance committee; Board performs these functions, which may reduce specialized oversight.
- Director compensation is entirely equity/options without disclosed performance metrics (time-based vesting), limiting explicit pay-for-performance linkage for non-employee directors.
- Small-company governance context: Chairman (McWilliams) designated audit financial expert; reliance on a concentrated group may increase key-person dependence.
-
Net view: Hallock’s independence, committee engagement, and ownership support investor alignment; absence of a dedicated nominating/governance committee and time-based director equity vesting merit monitoring for governance robustness.